Should I buy a 15-year-old car?

I need a car to get to work, but I don't want to pay a ton of money. I found a decent deal on a 2006 Toyota Corolla, but I'm not sure if it's the best move. Should I buy a car this old?

Answer
It sounds like you may have found a good deal on a car, but there are some things you’ll want to check before you purchase a 15-year-old vehicle.
There’s no cut-and-dry answer to whether you should purchase a car that is 15-years-old, but here are some things you’ll want to consider:
  • Mileage
  • How the previous owner treated the vehicle
  • Maintenance records
  • If the vehicle was in an accident.
The good news is that a Corolla is a relatively reliable vehicle and has been for decades, so chances are it’s going to be in decent condition if the car has been maintained properly.
Keep in mind, however, you may have to pay cash for this car as many lenders won’t let you borrow money on a car of that age.
You may also want to consider what type of car insurance is the best idea for your new ride. To help you save even more money, compare insurance quotes with Jerry. Just input some basic information, and Jerry will present you with quotes from up to 50 providers. The best part? The average Jerry user saves $879 per year on car insurance!
Eric Schad
Answered on Oct 29, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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